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Stock Market & Financial Investment News

News Breaks
April 10, 2014
12:25 EDTEBAY, GM, ALLY, RAD, BBBY, RT, IMPVOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday despite U.S. jobless claims dropping to their lowest level since 2007. Stocks began the session slightly lower following disappointing trade data from China, but the market seemed to briefly try and make a move into positive territory shortly after the opening bell. The attempt was short circuited when the tech-heavy Nasdaq began to weaken and the averages have continued to drift lower throughout the morning, leaving the Nasdaq down more than 2% near noon. ECONOMIC EVENTS: In the U.S., initial claims for unemployment benefits fell to 300K last week, hitting their lowest weekly level since May 2007. However, many discounted the figure, which can be volatile around March and April due to the timing of Passover and Easter, as well as other seasonal factors. Export prices rose 0.8% in March, while import prices grew 0.6%, both of which were greater than expected advances. In China, exports fell 6.6% from a year earlier in March, while imports plunged 11.3%. Economists had predicted year-over-year gains for both. COMPANY NEWS: Shares of eBay (EBAY) fell over 2.5% after the online marketplace operator struck a deal with noted investor Carl Icahn to end his proxy contest before the company’s upcoming annual meeting. The company agreed to Icahn’s suggestion to appoint David Dorman, a founding partner of Centerview Capital Technology, as an independent director and Icahn withdrew both his proposal to separate the company’s PayPal business and his two nominees to the company’s board... Shares of Ally Financial (ALLY), which was formerly the auto finance and financial services arm of General Motors (GM), were lower in their first day of trading following the company's return to the public markets. The Treasury Department, which had been Ally’s majority shareholder after rescuing it during the 2008 financial crisis, raised $2.38 billion by selling 95M shares at $25.00. General Motors made news again as well by confirming that two of its engineers have been placed on paid leave as part of the company's ongoing ignition switch recall probe. MAJOR MOVERS: Among the notable gainers following their earnings reports were drugstore operator Rite Aid (RAD), which rose 10% and casual restaurant owner Ruby Tuesday (RT), which gained 13%. Among the noteworthy losers was home furnishings retailer Bed Bath & Beyond (BBBY), which dropped over 6% after the company's first quarter profit outlook significantly trailed analysts' consensus estimate and the stock was downgraded to Neutral at Bank of America Merrill Lynch. Also lower were shares of data security solutions provider Imperva (IMPV), which plunged 41% after the company slashed its first quarter profit and sales outlook and the stock was downgraded at both Deutsche Bank and Oppenheimer. INDEXES: Near midday, the Dow was down 124.91, or 0.76%, to 16,312.27, the Nasdaq was down 92.72, or 2.22%, to 4,091.18, and the S&P 500 was down 21.90, or 1.17%, to 1,850.28.
News For EBAY;GM;ALLY;RAD;BBBY;RT;IMPV From The Last 14 Days
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July 14, 2014
10:00 EDTEBAYOn The Fly: Analyst Downgrade Summary
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09:16 EDTEBAYOn The Fly: Pre-market Movers
HIGHER: Citigroup (C), up 3.6% after reporting better than expected Q2 results, announcing $7B settlement with DOJ and FDIC... Apple (AAPL), up 0.7% after Barclays upgrades stock to Overweight, Morgan Stanley raises Apple estimates above consensus... Shire (SHPG), up 1.6% after receiving revised proposal from AbbVie (ABBV) of GPB 53.20 per share, which it says it would be willing to recommend to Shire shareholders. AbbVie is down 2.8% after the news... Mylan (MYL), up 4% after acquiring Abbott's (ABT) non-U.S. developed markets specialty and branded generics business in all-stock transaction valued at about $5.3B. Abbott up 1.6% after the news... Progenics (PGNX), up 13% after FDA says RELISTOR can be approved on data submitted in sNDA... Exelixis (EXEL), up 13% after announcing coBRIM Phase 3 trial met primary endpoint... URS (URS) up 8% after acquired by AECOM Technology (ACM) for $56.31 per share. AECOM shares alos up 2% after deal announcement... Whiting Petroleum (WLL), up 4.5% after agreeing to acquire Kodiak Oil & Gas (KOG) in a $6B transaction. Kodiak Oil & Gas up 3%... Kandi Technologies (KNDI), up 11% after announcing JV's sale of 4,114 EVs in Q2. LOWER: Riverbed (RVBD), down 4.5% after saying it sees its Q2 adjusted EPS at low end of 26c-28c range... Harmonic (HLIT), down 13% after reporting preliminary Q2 earnings results.. EBay (EBAY), down 0.5% after downgraded at Pacific Crest, confirming partnership plans with Sotheby's (BID).
08:14 EDTGMFord should beat Q2 estimates while General Motors will miss, says UBS
UBS believes Ford (F) will beat Q2 estimates while General Motors (GM) will miss due to recall costs. Were it not for the recall charges, UBS thinks GM would post solid underlying results. UBS, which thinks Ford is likely to see a strong second half as product launch costs are already factored into guidance, raised its price target on the stock to $22 from $18. UBS increased its GM price target to $54 from $49. The firm keeps Buy ratings on both stocks.
08:07 EDTEBAYeBay Sotheby's confirm partnership plans
eBay (EBAY) and Sotheby’s (BID) announced a partnership to develop an innovative online platform that will make it easier for millions of people worldwide to discover, browse and acquire exceptional works of art, antiques and collectibles. eBay and Sotheby’s will start by offering a number of live auctions that are taking place at Sotheby’s headquarters in New York. To accomplish this, eBay in the near future will be launching a newly-designed experience on its site, tailored for collectors of rare, unique and premium art and collectibles as well as first-time buyers. Sotheby’s will be the preeminent anchor tenant in the revamped marketplace, which will include a new live auction feature and real-time bidding from anywhere around the world. The Sotheby’s auctions will present 18 collecting categories. Going forward, the partnership will explore themed and time-based sales, as well as live auctions from Sotheby’s other global salesrooms. Evening Sales will not be included.
07:19 EDTGMProsecutors centering GM suit around deceptive statements, Reuters says
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06:35 EDTEBAYSotheby's, eBay to stream auctions, NY Times reports
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06:34 EDTGMGeneral Motors CEO to appear before Senate subcomittee this week, WSJ says
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06:06 EDTEBAYeBay downgraded to Sector Perform from Outperform at Pacific Crest
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06:03 EDTBBBYStocks with implied volatility below IV index mean; BBBY SHPG
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05:49 EDTBBBYStocks with implied volatility movement; BBBY CWH
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July 13, 2014
15:54 EDTBBBYGameStop, TJX, Staples, three other retailers look cheap, Barron's says
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15:52 EDTGMSouth Africa strike continues with impact on GM output, WSJ says
The National Union of Metalworkers in South Africa has rejected employers concessions and will continue to strike, says the Wall Street Journal. The strike has affected vehicle production at General Motors and BMW facilities in the country, added the Wall Street Journal. Reference Link
July 11, 2014
11:17 EDTBBBYHigh option volume stocks
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10:49 EDTEBAYeBay breaks out of downtrend, levels to watch
There has been a distinct downtrend in the name from the highs of March down to the lows of June. After a brief period of basing the shares are breaking out from that downtrend resistance line. At the current price of $51.59, next resistance is at $52.33 which was a recent pivot high on a closing basis. Support is at $50.94.
10:45 EDTBBBYBed Bath and Beyond calls active on speculation of a large investor stake
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10:37 EDTBBBYRumor: Bed Bath & Beyond moves up on speculation of a large investor stake
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10:35 EDTGMCadillac confirms Johan de Nysschen as president
General Motors (GM) announced the appointment of Johan de Nysschen as President – Cadillac. de Nysschen will be responsible for all aspects of Cadillac globally including sales, pricing and network development, strategic brand development and marketing and product portfolio planning, including critical input for product engineering and design. de Nysschen joins the GM executive leadership team as an executive vice president of the company beginning September 1 and reports to GM President Dan Ammann. de Nysschen spent the last two years as head of the Infiniti (NSANY) brand worldwide.
09:11 EDTGMFormer head of Infiniti taking over Cadillac, CNBC reports
Johan de Nysschen, the former head of Infiniti and Audi USA, will be taking over General Motors' Cadillac division, CNBC's Phil LeBeau reports via Twitter.
06:23 EDTEBAYChannelAdvisor reports Amazon June SSS up 34.4%, eBay up 12.3%
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06:00 EDTRAD, BBBYStocks with implied volatility below IV index mean; RAD BBBY
Stocks with implied volatility below IV index mean; Rite Aid (RAD) 36, Bed Bath & Beyond (BBBY) 18 according to iVolatility.
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